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Bye, Bye Tower... SEATTLE POST-INTELLIGENCER http://seattlepi.nwsource.com/business/131...Bankruptcy.html Friday, October 6, 2006 · Last updated 4:16 p.m. PT Group plans to liquidate Tower Records By RANDALL CHASE AP BUSINESS WRITER An exterior view of a Tower Records store is seen in San Francisco, Friday, Oct. 6, 2006. After a lengthy auction stretching over two days, a federal bankruptcy judge on Friday approved sale of California-based Tower Records to Great American Group, which plans to liquidate the music retailer. (AP Photo/Paul Sakuma) WILMINGTON, Del. -- After a lengthy auction stretching over two days, a federal bankruptcy judge on Friday approved the sale of California-based Tower Records to Great American Group, which plans to liquidate the music retailer. After almost 30 hours of what attorneys described as "robust" and "vigorous" bidding, Great American won with a bid of $134.3 million, beating Trans World Entertainment, which had hoped to continue operating at least some Tower stores, by a single bid increment of $500,000. Peter Gurfein, an attorney representing Tower Records, said the company will be sold for an aggregate of $150 million, including the sale of various leases and properties. Gurfein said Great American plans to begin the liquidation process and going out of business sales on Saturday, which eventually will result in the elimination of the jobs of some 3,000 Tower employees. "This is not an easy decision," said bankruptcy Judge Brendan Shannon, who nevertheless noted that the Tower debtors and other parties had agreed the bidding process was conducted fairly and in good faith. Tower Records, which has 89 stores in 20 states and owes creditors about $200 million, filed for Chapter 11 reorganization in August. In its filing, the company said it has been hurt by an industrywide decline in music sales, downloading of online music and competition from big-box stores such as Wal-Mart. Tower's Chapter 11 filing came two years after initial reorganization that resulted in bondholders forgiving millions of dollars in debt but taking an 85 percent stake in the company, leaving founder Russ Solomon and his family with 15 percent. Solomon founded Tower in Sacramento, Calif., in 1960, starting by selling records out of his father's drug store and eventually opening the company's landmark store on Hollywood's Sunset Boulevard in 1969. As part of the bankruptcy auction, the Sunset property will be sold for $12 million. Michael Bloom, an attorney representing Tower's secured trade creditors, urged Shannon to consider the closeness of the bids and the effect that liquidation would have before deciding whether to approve the sale. "We can save this company or we can liquidate it," Bloom argued. "... Sometimes, the highest bid is not the best bid. In this case, your honor, we believe the best bid is the Trans World bid." Trans World, which has about 1,100 mostly mall-based stores nationwide, has recently acquired other music retailers such as Sam Goody and Wherehouse Music, consolidating most of its acquisitions under the FYE name, which stands for For Your Entertainment. Tim Pohl, an attorney representing Trans World, asked the judge whether $500,000 was "a material enough difference" to liquidate a company, as opposed to keeping thousands of people employed. But Jay Indyke, an attorney for Great American, said Trans World and its bidding partners had discussed liquidating inventory and closing about two dozen Tower stores, and that they would not say how many stores they would continue to operate.

M. G. - you need to DANCE on your birthday!!! Oscar Sulley & the Uhuru Dance Band: Bukom Mashie

Say hello to Booker T. woncha?

Also, sometimes it's good to occasionally check where you have spam rerouted. I've found that the sifting isn't always perfect and I'll find a PayPal notice in the trash. R~~

Thanks again guys! Birthdays are invigorating! Kind of a reminder of what you've done (or not ) during the past year. As usual, it's a pleasure to take a break and see what's happening here. (tho it does cost some big bucks some time).

Thanks all! Moving on up the ladder of time... Busy day, but the highlight, so far, was delivered thru the miracle of webcasting. I "attended" an hommage to Nam June Paik with a friend of mine in the audience (within camera range!) who alerted me earlier to the webcast. A tribute program with some wonderful interviews, personal accounts, and lots of rare footage that was presented at the Pompidou. Three plus hours long! Also, loaded up some Braxton to fill most of the rest of the day. After dinner, it'll be time to hook up the new harddrive for the big audio/video dump (500 gigs!), but I think I'm gonna need a nap (pushin' 50, you know... ). Thanks again, Rod

That Bo-Keys is great! You can get a copy SS1 for 89 cents(!) or 2 bucks on Amazon.

When it comes to their radio broadcasts, it's finally great to hear a new generation that doesn't drench all of their commercials in excessive reverb like in the "old" days (70's/80's).

They have 29 wonderful releases to date... Sublime ...filled with humor, mystery, amazing saturated colors (both on the DVDs and CDs). Listening to your recommendation (Radio Soleil) now. MG might like this! Rod

Cockrell Hill would make sense 'cause lots of stations broadcast from there - tall towers and such. From that Hum Tum link you sent, their corporate offices are in your neighborhood. Amazing that Bhangra is still big! When I had the store in the early 90's, I tried to introduce some of this stuff to the dance crowd that'd come in, but I could only get a rep from WEA (Warners/Elektra/Atlantic) to listen, buy and spread the word. One of the funniest songs at that time (and there were many mix-versions) was a variation on the "Patel Rap" - which was about how the US motels were being taken over by "Mr. Patel"s - so the "Patel-motel" rhyme was everywhere in these songs. Pretty funny and funky! Clem: I LOVE Sublime Frequencies - I have all of those including the DVDs and I eagerly await every new batch of about 4 that come out. The Bishop's have a wonderful collection of obscurities. They don't mess with the DVDs - they just shoot 'em straight with the minimum of editing - glorious stuff! R~~

My brother-in-law went to see Bad Company just a few weeks ago. I'll have to ask him how many of the original members were there and whether Boz was one of them. More tributes/info here: http://www.dgmlive.com/news.htm?entry=566 and here: http://sidsmith.blogspot.com/2006/09/boz-b...-1946-21st.html

It's way up at the top of the AM dial I think - Bhangra heaven! It's out of Carrollton or Farmers Branch (Texas). R~~

Ha! Funny that MHS would've re-released this. Originally on Labor records - German bandleader and composer. Outside jazz charts with hints of classical avant-garde is probably the best way to describe it. I think it's one of his best, if not, the best recording of his. Rod

Boz Burrell

It even features Bing's heavier set brother Big Crosby!

Yup! Glorious they are! About 100 pages each - packed with info.

Thanks! Good to hear that you've had no breakdowns or clogging. OK, great! I've got to have a Cyan right away, but I'll order the others online. thanks again, Rod

Hey Jim, Are you still having good luck with your non-OEM ink? I'm thinking of making the switch for my Epson R800. Still using the eBay source? Thanks, Rod

Ay! The lass does a fair bit of playin' on this here rekkid (maybe a third side to Marilyn?) This was my first introduction to her.

http://tinyurl.com/rm2em

I was just listening last week to it (and now as I type). I don't get the big wait for it, but it's a pleasant album. It's a bit on the "lite" side for me, but if you're into tastefully arranged charts, then you may like this. Rod

Yeah! ...and it's in your state too for pickup!

That Suicide - Dylan connection makes me wonder about this cover... ...oh, it's not worth it really........unless you're some kind of R 'n' R whiz kid who collects ephemeral nonsense... R~~

Found these on another website {Shit...Man!}: (with thanks to our own "Kulu Se Mama")

Understand perfectly. That's why I said some - not painting with a wide brush here. Clem's got his own words. Mine are not that nobody should listen, but that I'm a bit surprised when some musically and culturally literate folks that I know in person and some online who have great taste don't seem to have a problem with his copping more than just influence, chording, or the slyly borrowed lyric to call his own. It doesn't really matter what I think of his music, I'm just confused about the go-ahead that this guy gets. Maybe it's some strange mix of influence/sound that I'm not getting. Maybe he's kind of a Cliff Notes for the downhome blues lover or something. It's like getting your African music fix from David Byrne or Paul Simon. I like Byrne, but I'd never call him a genius of African music - yet, Dylan gets all of these accolades of being a genius lyricwriter, songwriter, instrumentalist, and probably ice cream truck driver if his fans were ever asked. I never would try to dissuade anybody from listening to the music they enjoy - it's just a strange mystery to me that I can't unscramble. That's all, really (for me). Clem will have more to say I'm sure. Rod